Wall Street ends sharply higher as Treasury yields dip

Apple drops on concerns about iPhone demand Treasury prices rebound after BoE decision S&P 500 records largest one-day gain since Aug. 10 Indexes: Dow +1.88%, S&P 500 +1.97%, Nasdaq +2.05% Sept 28 (Reuters) – Wall Street ended sharply higher on Wednesday following its recent sell-off, helped by falling Treasury yields, while Apple dropped on concerns … Read more

UK housing market may face perfect storm as mortgage rates rise, house prices drop

New mortgage rates now quoted at 5%-6% Millions of homeowners could be overstretched HSBC sees 7.5% fall in house prices into next year LONDON, Sept 28 (Reuters) – A surge in borrowing costs and a likely slowdown in economic growth threaten to trigger a selloff in Britain’s housing market with consequences for personal wealth and … Read more

IMF and Moody’s censor UK policy that sparked market turmoil

IMF does ‘not recommend’ policies like UK growth plan Moody’s: economic plan is ‘growth negative’ Pound trading down 0.5% to $1.0681 Bond strategists warn market almost untradeable LONDON, Sept 28 (Reuters) – The International Monetary Fund and ratings agency Moody’s ramped up pressure on Britain to reverse a new economic strategy that was roiling financial … Read more

Morning Bid: Eye of the storm

Register now for FREE unlimited access to Reuters.com Register A look at the day ahead in US and global markets from Mike Dolan. As Hurricane Ian raged and set its sights on Cuba and Florida, a global financial storm in bond and currency markets calmed moderately – though likely only temporarily. Ian strengthened into a … Read more

Reversing UK confidence crash requires policy U-turn: economists

LONDON, Sept 27 (Reuters) – Rock-bottom investor confidence in Britain will only recover if finance minister Kwasi Kwarteng scraps the economic plan that unleashed such turmoil in financial markets, leading economists, investors and banks warned on Tuesday. The pound touched an all-time low of $1.0327 on Monday and British government bonds sold off at a … Read more

Sterling sinks to new low as ‘mini budget’ shatters investor faith in UK markets

Pound briefly touched a record low against dollar Gilts continue to collapse LONDON, Sept 26 (Reuters) – The pound plunged to a record low against the dollar early on Monday and British bond prices collapsed as fears mounted over the new government’s fiscal plan, unleashing calls for an emergency Bank of England rate hike to … Read more

Stocks slump to 2-year low as rates reality bites

A man is silhouetted in front of a board displaying the Japanese yen exchange rate against the US dollar outside a brokerage, after Japan intervened in the currency market for the first time since 1998 to shore up the battered yen, in Tokyo, Japan September 22, 2022. REUTERS/Kim Kyung-Hoon Register now for FREE unlimited access … Read more

IDB directors unanimously recommend firing of Claver-Carone after ethics probe

Visitors walk past a screen with the logo of the Inter-American Development Bank (IDB) at the Atlapa Convention Center in Panama City March 13, 2013. REUTERS/Carlos Jasso Register now for FREE unlimited access to Reuters.com Register WASHINGTON, Sept 22 (Reuters) – The Inter-American Development Bank’s board of directors voted unanimously on Thursday to recommend firing … Read more

Turkish cenbank stuns markets again with 100 basis-point rate cut, lira hits new low

A logo of Turkey’s Central Bank (TCMB) is pictured at the entrance of the bank’s headquarters in Ankara, Turkey April 19, 2015. REUTERS/Umit Bektas Register now for FREE unlimited access to Reuters.com Register Key interest rate cut 700 basis points in last year Bank points to continued signs of economic slowdown Lira weakens beyond all-time … Read more

Asian stocks sink, yields rise as markets brace for aggressive Fed

Visitors walk past Japan’s Nikkei stock prices quotation board inside a conference hall in Tokyo, Japan September 14, 2022. REUTERS/Issei Kato/File Photo Register now for FREE unlimited access to Reuters.com Register TOKYO, Sept 21 (Reuters) – Stocks in Asia sank and bond yields were elevated on Wednesday, as investors braced for another aggressive interest rate … Read more